Virginia House Bill 607 (Prior Session Legislation)

---

Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 12 2010 - 25% progression, died in committee
Action: 2010-12-03 - House: Left in Science and Technology
Pending: House Science and Technology Committee
Text: Latest bill text (Introduced) [HTML]

Technology, Nanotechnology and Biotechnology Investment Fund created. Creates the Technology, Nanotechnology, and Biotechnology Investment Fund to attract technology or biotechnology companies to, or assist those companies located in, the Commonwealth. Moneys in the Fund shall only be applied to qualified research expenses and basic research payments (as defined by §41 of the Internal Revenue Code) for research conducted in the Commonwealth. Qualified research expenses are defined as in-house expenses or contract research expenses, paid by a technology or biotechnology company. Basic research payments are defined as payments made to companies and nonprofit research institutions and organizations located in the Commonwealth for research in technology and biotechnology. No grant to a company from the Fund is to exceed $500,000 per year. The Innovation and Entrepreneurship Investment Authority shall administer this fund.

Technology, Nanotechnology, and Biotechnology Investment Fund; created.

Del. Harry Purkey [R]

Date	Chamber	Action
2010-12-03		House: Left in Science and Technology
2010-02-03		House: Continued to 2011 in Science and Technology by voice vote
2010-01-12		House: Referred to Committee on Science and Technology
2010-01-12		House: Prefiled and ordered printed; offered 01/13/10 10102059D

Chapter	Article	Section	Citation Type	Statute Text
2	2	2233.3	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?111+sum+HB607
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?111+ful+HB607+hil